4965 Tuscarawas St Canton, OH 44708

Property Details for 4965 Tuscarawas St

Year built

1977

Lot size

1.57 lot acres

Property size

20,885 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 20,885 square foot, 100% occupied shopping center in Canton, Ohio. The property boasts five tenants, including a Pet Supplies Plus (anchoring 39% of the GLA) and Great Expressions Dental Centers (12% of GLA), both with long-term leases. Built in 1977, this single-building, fee-simple property sits on a 1.57-acre lot and features a strong NOI of $175,431, resulting in an attractive 8.50% cap rate. The asking price is $2,065,000, translating to $98.87 per square foot. Four of the five tenants have occupied the space for over 20 years, demonstrating exceptional tenant longevity and historical occupancy. The property benefits from a prime location on Tuscarawas Street West, a major thoroughfare connecting Canton and Massillon, with high daily vehicle traffic (20,590 VPD). Its strategic placement within a well-established retail corridor, near major retailers like Marc's Grocery and Walmart, ensures consistent traffic and visibility. The surrounding area features a dense population (7,814 within 1 mile, 58,131 within 3 miles, and 147,677 within 5 miles), further enhancing the property's value. Approximately 45% of the GLA offers flexible usage potential, mitigating future re-tenanting risks and providing lucrative value-add opportunities through potential rent increases and lease term extensions. The property also benefits from prominent pylon signage and convenient access from both the main roadway and a side street. This stabilized investment offers a compelling combination of strong cash flow, long-term tenants, and significant upside potential.